Author: NBTC

Ethereum (ETH) price attempted to surpass $2,700 this week but fell short of the target. Despite the pullback, the cryptocurrency notes a 3.50% increase in the last seven days. But as the price wobbles around the same region, long- and short-term holders appear to have different views on ETH. Ethereum Faces Mixed Outlook One way to gauge investor sentiment regarding a cryptocurrency is by analyzing the Net Unrealized Profit/Loss (NUPL) metric. This indicator measures the level of unrealized gains or losses held by market participants, offering insights into the broader sentiment and psychology of holders. The NUPL is divided into…

Conflux launched its next hardfork and released the public testnet version v2.4.0-testnet in June. Conflux has established new partnerships, including with OpenFlux Marketplace and Cwallet. Conflux Network achieved great progress in its continuous development and outreach activities in June. From starting new partnerships to organizing big events, the network has demonstrated a great dedication to expansion and creativity. The main Conflux developments for June are described in this progress report, along with prospective consequences. Our June Progress Report is out! https://t.co/VQCQY7KZUg Highlights: 🔷Developed and tested the next hardfork. 🤝 Welcomed new partnerships with Mengli Carnival, @OpenFluxNFT Marketplace, PoPP Web3 Lab,…

Hong Kong’s crypto hub ambitions face hurdles as more than a dozen exchanges struggle to secure full licenses due to regulatory concerns. Cryptocurrency exchanges in Hong Kong seem to be grappling with challenges in securing full licenses as the city pushes to become a crypto hub, per a Bloomberg report, which cites people familiar with the matter. The city’s Securities and Futures Commission has reportedly identified unsatisfactory practices during on-site inspections of 11 “deemed-to-be-licensed” exchanges, raising doubts about their ability to meet full licensing requirements. The investigation revealed that some exchanges were overly reliant on a small number of executives…

Over the past seven months, data from cryptoquant.com reveals a staggering $26 billion worth of bitcoin and ethereum has been pulled from centralized crypto exchanges. During the same period, trading platforms have seen an influx of $9.1 billion ERC20-based tethers since Jan. 1. Bitcoin and Ethereum Scarcity Grows as $26 Billion Leaves Centralized Exchange Bitcoin is becoming harder to come by this year. While investors are busy withdrawing the leading digital asset from centralized exchanges, miners are also seeing their reserves dwindle. Data from cryptoquant.com reveals that miners have offloaded 29,377 BTC, with their reserves dropping from 1.84 million BTC…

As of August 19, 2024, bitcoin is trading at $58,061, with a 24-hour intraday range between $57,918 and $60,191. The crypto asset saw a trading volume of $20.7 billion and maintains a market capitalization of $1.14 trillion. Multiple timeframes reveal a sustained downtrend, with key resistance levels holding firm and technical indicators signaling weak buying interest. Bitcoin Bitcoin’s 1-hour chart paints a grim picture, with a recent sharp decline from $60,271 to $57,844. The drop was marked by a significant increase in volume, suggesting potential capitulation. However, the absence of strong upticks following this decline indicates that buyer momentum remains…

Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter. Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition: Takeaways from the first month of trading for US spot ETH ETFs. Fed Chair Jerome Powell spoke. Casey translates. The mixed economic data you might have missed this week. One month in the books for US spot ETH ETFs Spot ether ETFs hit the US market one month ago today, and the…

In the last 24 hours, Shiba Inu’s burn rate surged 1611.81%, with 17,695,347 SHIB tokens burned in 4 transactions. In the past 24 hours, the Shiba Inu (SHIB) burn rate has skyrocketed by 1611.81%. According to Shibburn, a total of 17,695,347 SHIB tokens were permanently removed from circulation in just four transactions. In the past 24 hours, there have been a total of 17,695,347 $SHIB tokens burned and 4 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/f2SGmhKM5g — Shibburn (@shibburn) July 3, 2024 Notably, the recent burns were not evenly spread…

Cardano founder Hoskinson expresses skepticism as Kamala Harris’s aide states that she would set clear regulations that support the cryptocurrency industry if elected president. Brian Nelson, Vice President Kamala Harris’s senior policy advisor, has stated that if she is elected, the Democratic candidate will support policies that aid the growth of cryptocurrencies. The advisor made this claim in a roundtable at Bloomberg’s Democratic National Convention on Wednesday. Nelson noted that Harris is committed to seeing innovative technologies like digital assets thrive in her administration. He said the vice president would establish certain rules and clear regulatory policies to ensure the…

In a recent controversy shaking the crypto world, Binance, one of the largest crypto exchanges, is under fire for allegedly seizing funds from Palestinian users. This issue has been brought to the forefront by Ray Youssef, co-founder of Paxful and CEO of Noones, who claims that Binance acted on a request from the Israel Defense Forces (IDF) to freeze Palestinian accounts. The situation has sparked outrage and confusion among users and observers alike, prompting Binance to address these serious allegations. Allegations of Widespread Seizures Ray Youssef’s August 26 report alleged that Binance had confiscated all cryptocurrency funds held by Palestinians,…

Bitcoin’s price has failed to recover meaningfully after its drop from the $68K level. Yet, investors might still have hope, as several support levels are available. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been consolidating below the 200-day moving average, located around the $63K mark. The market has also retested the moving average after breaking below it a couple of weeks ago but has been rejected to the downside. Since then, the price has failed to hold above the $60K level and is currently approaching the $57K support level. If this level breaks,…